XcL Midstream, LLC is a growth- oriented natural gas midstream company formed to develop, acquire, and operate midstream assets in Southwest Appalachia, the most prolific gas region in North America.
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EQT has entered into a purchase agreement with THQ Appalachia I for its upstream assets and the XcL Midstream gathering & processing position for $5.2 billion. The deal will include $2.6 billion in cash and $2.6 billion in EQT common stock. THQ is backed by commitments from Quantum Energy Partners, and the deal will close in 4Q22.